MBX Biosciences (NASDAQ:MBX) Shares Gap Up – Still a Buy?

MBX Biosciences, Inc. (NASDAQ:MBX) gapped up prior to trading on Friday. The stock had previously closed at $56.55, but opened at $59.28. MBX Biosciences shares last traded at $59.7250, with a volume of 59,280 shares traded.

Analysts Set New Price Targets

MBX has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a report on Friday, July 17th. Wall Street Zen lowered MBX Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Barclays restated an “overweight” rating and issued a $88.00 target price on shares of MBX Biosciences in a research report on Friday, August 7th. UBS Group reiterated a “buy” rating on shares of MBX Biosciences in a research report on Monday. Finally, Mizuho raised their price target on MBX Biosciences from $57.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, MBX Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.89.

MBX Biosciences Trading Up 3.7%

The stock has a 50-day moving average of $63.25 and a two-hundred day moving average of $47.47. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of -24.34 and a beta of 0.10.

MBX Biosciences (NASDAQ:MBX) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.10). Sell-side analysts expect that MBX Biosciences, Inc. will post -3.1 EPS for the current fiscal year.

Institutional Trading of MBX Biosciences

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of MBX Biosciences in the second quarter worth approximately $183,467,000. Wellington Management Group LLP increased its stake in MBX Biosciences by 55.9% in the 2nd quarter. Wellington Management Group LLP now owns 4,977,523 shares of the company’s stock valued at $274,759,000 after buying an additional 1,785,699 shares during the period. Aaron Wealth Advisors LLC lifted its position in MBX Biosciences by 1,568.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 1,168,176 shares of the company’s stock worth $34,870,000 after buying an additional 1,098,176 shares in the last quarter. Eventide Asset Management LLC purchased a new stake in MBX Biosciences in the 4th quarter worth approximately $28,071,000. Finally, Parkman Healthcare Partners LLC acquired a new stake in shares of MBX Biosciences during the 2nd quarter valued at $44,170,000.

MBX Biosciences Company Profile

MBX Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing peptide therapies for endocrine and metabolic disorders. The company uses its Precision Endocrine Peptide platform to design engineered peptides intended to provide targeted activity, extended duration and more consistent treatment effects.

MBX’s lead program, MBX 1416, is an investigational long-acting parathyroid hormone receptor agonist being developed as a potential replacement therapy for people with hypoparathyroidism, a disorder in which the body produces insufficient parathyroid hormone.